{"id":20066,"date":"2024-05-11T09:35:53","date_gmt":"2024-05-11T09:35:53","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20066"},"modified":"2024-05-11T07:34:13","modified_gmt":"2024-05-11T07:34:13","slug":"the-rise-of-socialfi-exploring-fantasy-top-blast-and-sanko-gamecorp","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/the-rise-of-socialfi-exploring-fantasy-top-blast-and-sanko-gamecorp\/","title":{"rendered":"The Rise of SocialFi: Exploring Fantasy Top, Blast, and Sanko GameCorp"},"content":{"rendered":"

The growing industry of Social Finance (SocialFi)<\/strong> is the next exciting opportunity for crypto enthusiasts. The analysts at K33 Research noted that SocialFi is gaining traction despite the fact that the system is under what they term as \u201cperverse incentives.\u201d<\/p>\n

K33 DeFi analyst David Zimmerman<\/strong> had recently reported on a SocialFi<\/a> game, Fantasy Top, that operates on the Ethereum layer-2 network Blast. The unique selling point of the platform was emphasized by Zimmerman, by means of which the users had possibility to trade virtual trading cards associated with X accounts of crypto, and compete in tournaments to win rewards.<\/p>\n

Zimmerman pointed that currently, a pack of trading cards at Fantasy costs approximately 0.39 ETH and the equivalent of $1,200 on the prevailing rate. This highlights the high investment potential within the platform.<\/p>\n

Over the course of the day, though, Zimmerman also warned of the dangers within the SocialFi space, with the main issue being the cash grabs and influencers pushing platforms for their own personal gain.<\/p>\n

Influencers are paid to push the platform earning a 1. 5% fee of the trading volume for their card on top of 10% of the pack sales,\u201d Zimmerman specified, revealing the convoluted dynamics behind these platforms.<\/p>\n

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